The continued growth of private Portuguese investment in the luxury real estate sector in Portugal, which accounts for a significant proportion of foreign direct investment, has led the Portuguese Industrial Association (AIP) to organise a mission to China.
The driver behind private Chinese investment in Portugal is obtaining so-called golden visas, which provide residency permits valid across the Schengen area to whoever invests over 500,000 euros in real estate. This scheme has caught the attention of real estate agencies and law firms in both countries as well as of other companies specialised in property searches.
The high point in 2014 of this growing interest and involvement will be the “China Portugal Property and Investment Roadshow” organised by AIP Foundation, via its fairs and congress arm, AIP – Feiras, Congressos e Eventos, of the Portugal Pavilion at the “10th Shanghai Overseas Property & Investment Immigration Show” with the support of the Portuguese-speaking Construction and Real Estate Federation, Portuguese-Chinese Chamber of Commerce and Industry and Portugal’s foreign trade and investment agency AICEP.
Described on real estate news website Diário Imobiliário as “one of the most important events in China to attract Chinese direct investment in this sector,” the event will be held between 14 and 17 March in Shanghai, with “around 12 Portuguese companies representing the best of the real estate/tourism sector in Portugal.”
As well as the Portugal/China Property & Investment Road Show 2014/SIL, supported by the Portuguese Consulate and AICEP delegation in Shanghai, the mission will also travel to Macau on 18 March to meet with local businesspeople, and present reciprocal investment opportunities.
The mission is scheduled to end on 19 March in Hong Kong after a meeting with local businesspeople at the Portuguese Club (Clube Lusitano) and the European Union representative office in Hong Kong.
“The Chinese market and the French market are those that have most looked to Portugal as a secure and profitable investment opportunity, and this is why they were the two markets chosen as strategic destinations for the internationalisation of the Portugal Real Estate Salon,” said Luís Lima, the chairman of the SIL 2014 Strategic Council.
The aim is to attract foreign investment to Portugal by attracting new investors to the Portuguese Real Estates Salon (SIL – Salão Imobiliário de Portugal 2014 from 8 to 12 October in Lisbon) and the internationalisation of the real estate sector, taking Portuguese companies to growth markets.
The 2013 edition of the Salon was attended by around 100 European investors, investors from China and the Community of Portuguese-speaking Countries (CPLP), which led to 750 meetings with over 150 Portuguese businesspeople.
Portuguese real estate price recovered in 2013 following downturns in previous years and the golden visa scheme was a driver of that recovery as it brought in over 300 million euros of investment, mainly from China.
For this year, and based on figures from the beginning of the year, investment is expected to total almost 500 million euros. (macauhub)